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Cape retail's new selling points

  • Published in Retail

SALT RIVER-based fashion retailer Rex Trueform managed a stylish performance in the half-year to end December with revenues up 7% to R296m and after tax profits up a smart 10% to R19m. CEO Catherine Radowsky stressed that trading expenses – a key area of focus in an economically depressed environment – were contained and increased by less than 5%.

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Sea Harvest packs for Perth

CAPE TOWN’s iconic hake company Sea Harvest has surprised the old salts in the fishing industry by casting deep into international waters. In early January Sea Harvest – which has a large production plant based in Saldanha Bay – announced a 19,9% investment in Mareterram Limited, a specialist fishing company-based in Perth and (recently) listed on the Australian Stock Exchange. The move was largely unexpected with Brimstone, the controlling shareholder on Sea Harvest, seemingly intent on pursuing organic growth by building additional non-seafood frozen food ranges.

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Great catch

One can be forgiven for getting too excited when the big hake catchers make a big profit splash. That’s because the hake industry in the past decade-and-a-half has certainly not been characterised by uneven catches and periods where operating performance was stranded on the rocks.

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Ascendis buys diagnostics of Scientific Group

STEENBERG-based health care brands conglomerate Ascendis has snapped up the well-regarded diagnostics of the The Scientific Group (SG) in a R284m deal. The deal will be settled in cash and shares, and interestingly involves iconic Western Cape empowerment company Brimstone as one of the key members of the consortium vending SG.

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Kingsbury Hospital completes R126m refurbishment

Life Hospitals has officially opened the extension to its Kingsbury Hospital in Claremont, Cape Town, which included an extensive refurbishment to the existing hospital. With a pricetag of R126m, the construction project includes a new 24 hour Accident and Emergency (A&E) Unit, a paediatric ward and additional parking, with the ground floor, theatres and wards being overhauled, giving the hospital a modern, airy and cohesive feeling.

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Is something cooking?

A new corporate recipe appears to be simmering in Cape Town following the recent link up between community rooted empowerment company Grand Parade Investments (GPI) and iconic food franchising company Spur Corporation.

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